12 November 2020Actuarial & underwriting

Beazley launches a suite of commercial reinsurance products in Latin America

Beazley has expanded its offerings in Latin America with a suite of commercial reinsurance products.

The specialist insurer is offering healthcare liability products in Chile and Colombia. This includes Beazley Virtual Care, which provides protection against risks associated with the provision of technology-enabled healthcare and wellness services.

In Chile it has also launched a range of cyber and financial lines reinsurance products to protect against the risks facing businesses and their senior executives.

Beazley has also created an information security and privacy (InfoSec) product that offers first and third party protection and e-crime cover and costs for managing data breaches and cyber attacks. In the event of a cyber incident, Beazley’s InfoSec product supports the policyholder by covering costs associated with legal, forensic and notification services, call centre services, fraud or loss prevention, as well as PR and crisis management support.

Meanwhile it has expanded its directors’ & officers’ (D&O)  liability coverage to Chile, and is offering professional liability and crime coverage for financial institutions. The policies provide protection for companies and their senior executives operating in an increasingly litigious environment. These products were successfully launched in Colombia in July 2020.

Elena Alhambra, international healthcare underwriter at Beazley, said: “The health sector has demonstrated incredible resilience during the COVID-19 crisis and for many healthcare organisations this has involved providing more services virtually. Beazley Virtual Care is designed to respond to the interconnected liabilities facing the sector in addition to more ‘traditional’ risks associated with healthcare.”